Auto major Mahindra &Mahindra today said it has launched a premium SUV ‘Rexton’ from the SsangYong stable.

The first launch from its Korean arm is produced at the Chakan plant with some localisation,the company said.

In November 2010,Mahindra & Mahindra (M&M) had signed a definitive agreement with Ssangyong Motor Company to acquire 70 per cent stake in the ailing South Korean automaker at a total cost of USD 463 million (about Rs 2,105 crore).

“A manual model of the sports utility vehicle (SUV) is priced at Rs 17.67 lakh ex-Mumbai and the automatic version at Rs 19.67 lakh,” M&M president,automotive and farm equipment,Pawan Goenka said at the launch.

The car is the first high-end SUV from the Mumbai-based auto firm.

The company said it has invested over Rs 63 crore at its Chakan plant for this model.